Navient Student Loan Complaint

Navient Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled District of Columbia

I have private student loans through Navient ( formerly - ), which are set up for automatic monthly payment. Enrollment in automatic payments affords me a 0.25 percent reduction in my interest rate. Last month, with no notice provided to me, Navient placed my loans on an in-school deferment, which cancelled my automatic payment and accordingly raised my interest rate by 0.25 percent. I enrolled in a part-time online course a few months earlier, and was unaware that the school had contacted Navient and that my part-time status was sufficient for a deferment. I learned this information during a call with Navient -/-/- after I noticed that my payment for -/-/- was not automatically processed as usual. Following two calls, Navient proposed as a solution that we shorten my deferment. I noted that this would result in me being charged 0.25 percent in excess interest charges for the two billing months the deferment was erroneously in place. After speaking to a supervisor, Navient agreed to remove the


Assuming the cancellation and excess interest credit are processed as agreed, I will be pleased with this solution to my problem. However, Navient 's procedure to put loans on in-school deferment without requesting this from or notifying borrowers is troubling, particularly because it can result in extra costs for the borrower. I 'm hopeful that CFPB can pressure Navient and other lenders to change this practice. It appears to me that this was the very sort of behavior that led - to feel it had to burnish its image and change its name to Navient in the first place. Thank you.